DF, CELG, GT & MWW: My Long and Short Swing Trades
So far in the early morning trading the bears have managed to sell each of the rips the market has given them. That doesn't mean things can't change later on, but for now that is what we are seeing. I mentioned in this morning's trading plan that if the market could sell-off enough over a multi-day period (let's face it the bulls are not intimidated any more by a one-day sell-off) and shake enough bulls out of their long positions, it would actually be the perfect scenario for this market to rocket higher thereafter, because those same people who were shaken out will be jumping back in again to propel the market higher, and the existing shorts (if there are any more of those out there) will be forced to cover yet again.
That's my two-cents anyways.
LONG: Celgene (CELG)
SHORT: Monster Worldwide (MWW)
LONG: Dean Foods (DF)
SHORT: Goodyear Tire & Rubber (GT)Here are the chart markups